Yesterday, the oil short-term trend turned up. The price broke out the resistance zone of 79.29 – 78.79. The upside target is the upper Target Zone 84.73 – 83.74. It is relevant to enter purchases on the correction at support levels. The strong supports are support (A) 77.67 – 77.34 and support (В) 76.02 – 75.52.
To enter a long trade, one should expect the test of these zones and detect a corresponding pattern. The first target will be today’s high.
USCrude trading ideas for today:
- Buy according to the pattern at support (А) 77.67 – 77.34.
TakeProfit: 80.90.
StopLoss: according to the pattern rules. - Buy according to the pattern at support (В) 76.02 – 75.52.
TakeProfit: 80.90.
StopLoss: according to the pattern rules.
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